Wednesday, February 03, 2016

PNC Bank Building Sold - Press Release

The Commissioners of Leonardtown are pleased to announce that Rainbow Construction, Inc.
has purchased the PNC Bank building in the heart of Leonardtown Square. This iconic facility
has been vacant for over two years and holds a key location in downtown Leonardtown. Mayor
Dan Burris stated, “We are pleased that this great historic building will once again be active.
This is another important step toward the economic security of the downtown business district.”

This project joins other key revitalization projects that have moved forward recently such as the
Washington Street Retail complex, formerly known as the Bell Motor Company Used Car Lot.
Owner Rayner Blair is extensively remodeling the existing building for a mix of restaurant/retail
and office uses and adding a Dunkin’ Donuts pad site. Additionally the Seymour Building,
formally Corner Critters Pet Store, has seen an amazing transformation by partners Mike
Mummaugh, Susan Dyer and Micheline Lopez-Estrada, featuring a restaurant on the first floor
and five luxury two-story apartments on the upper floors. Mixed use projects such as these are
important to the vitality of the town as it offers daytime and nighttime pedestrian traffic.

Mr. Mark Guadagnoli of Rainbow Construction stated, “We are very excited to be part of
Leonardtown and the revitalization of Downtown. Our immediate plans include converting the
upper floors of the First National Bank building to luxury loft apartments and renovating the first
floor to include retail spaces for lease. Maintaining the exterior façade of the building is an
important part of the character of the project.”